All Forum Posts by: Michael McClearn

Investment Info:

Single-family residence buy & hold investment in Silver Spring.

Purchase price: $540,000
Cash invested: $18,200

STR pulling in 90K+ yoy

Hey Reid. I realize I'm late to the form here. We're able to underwrite substantial construction loans, deal dependent. Shoot me a text if the need is still there, or reach out and hold my contact for next time.

C: 720.546.8281

Hey Kit,

Curious if you ended up finding a strong attorney who is well versed in creative financing strategies. Specifically one whose got expertise with owner carry, subject to, lease options, executory contracts, etc.

Cheers!
Mike 

Investment Info:

Single-family residence buy & hold investment in Denver.

Purchase price: $525,000
Cash invested: $26,750

5B2B SFH House Hack in the North Park Hill Neighborhood.

@Jeff White

It seems like this is definitely an untapped niche. It would be nice to see a PM fill this role in the area. For many house hack investors, I think cash flow may still be good enough to justify those rates...

@Matt Nico

My thoughts exactly! The cash flow is good enough to justify a 15-20% fee, the problem is finding someone willing to do it (effectively).

Currently looking around for a Property Management Company familiar with the House Hacking rent-by-the-room investment strategy. My concern isn't for the first year where I'm living in the property, but for the subsequent years when I will no longer be living in it. I know there are exit strategies where you can either put it up for rent as a SFH or attempt to 'duplex' it out into two units... but if I am looking to keep it running as an individual room rental investment, are there any PMs in the area that specialize in this?

I am aware of other strategies, mainly having one of the housemates essentially run the PM responsibilities, but ultimately I am looking for a more permanent and professional PM solution. Any direction, wisdom, or references will be greatly appreciated.

Cheers

@Brian Kraft Hey Brian, I'd love to know how this panned out in the end. I am in a similar situation at the moment. 

Thanks!

@Jeff Carballada

Thanks for sharing Jeff. I'm a little bummed to hear about your poor experience, but am also not suprised since they've already taken 3+ days to respond to an inquiry I had them them.

Please let me know if you find a good alternative. I will repost in this thread what I eventually end up using, and post a short snippet of a review as well.

@Brianna Reynolds

Looking into the Zillow Option now. I think they charge a slight listing fee, which is new, but they seem to have their landlord management platform figured out. Thanks for the reccomendation, Brianna!